Shareholder Activism
Goodmans is the market leader in shareholder rights and activism mandates. Our lawyers deliver timely, creative and pragmatic solutions agreeable to all parties. With a reputation for collegiality in circumstances that can be contentious, our lawyers model constructive dialogue that often circumvents major escalation and leads to optimal dispute settlements.
At the same time, we have been extremely effective in winning protracted proxy contests for activists and boards where the only practical solution is to fight. We have time-honoured relationships with leading proxy solicitation firms, investor relations firms and media relations experts in Canada and internationally and are the leading recipient of referrals from other law firms in Canada and abroad.
In pioneering novel strategies to achieve our clients’ objectives, Goodmans has evolved shareholder activism market practices in Canada. We were the first in Canada to use Twitter and YouTube in a proxy campaign to reach a broad shareholder base.
Clients turn to us to add strong presentation, tactical and interpersonal skills to their team. We provide a steady voice and the ability to work with, and help lead, a team of principals and advisors in an environment that is often emotional and subject to tight and aggressive deadlines. We recognize the unique elements of each situation and carefully analyze the relevant considerations.
Our solutions meet the broad needs of boards and activist investors and include director nominations, meeting requisitions, shareholder proposals, proxy contests, unsolicited take-over bids, the use of strategic and tactical litigation and regulatory applications and settlement negotiations.
Expertise
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Mergers and Acquisitions
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Private M&A
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Public M&A
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Special Committee Advisory
Explore People in Shareholder Activism
Meet our teamFeatured Work
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Shareholder Activism
Greywood, LLC Leads Shareholder Activism Against Enthusiast Gaming Holdings Inc.
Goodmans LLP is representing Greywood LLC in connection with its acquisition of beneficial ownership of 5% or more of a class of equity securities of Enthusiast Gaming Holdings Inc. (“Enthusiast… -
Shareholder Activism
IAMGold Corporation Names New Board Members
Goodmans acted for the directors of IAMGold Corporation (or the “Company”) in connection with its proxy defence against Resource Capital Fund… -
Shareholder Activism
HEXO Corp.’s Successful Proxy Defense
Goodmans acted for the Board of HEXO Corp. (or the “Company) in connection with its successful proxy defence against a group of dissident shareholders led by Adam Arviv… -
Shareholder Activism
CN Railway Replaces CEO and Names Four New Board Members
Goodmans LLP acted for Elliott Capital Management in connection with the settlement of the proxy contest started by TCI Fund Management to replace directors of Canadian National Railway Company (“CN… -
Shareholder Activism
Newmont Mining's Successful Defense Against Shareholders Opposing the Acquisition of Goldcorp.
Goodmans LLP represented Newmont Mining in connection with its defense against shareholders opposing the proposed and then completed acquisition of Goldcorp… -
Shareholder Activism
Hudbay Minerals Completes Proxy Defence
Goodmans LLP represented the Board of Hudbay Minerals in connection with its successful proxy defence against Waterton…
Insights
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Shareholder Activism
Canadian Securities Administrators Seek Public Comment on Activist Short Selling
The Canadian Securities Administrators (CSA) recently issued a consultation paper (the “Consultation Paper”) seeking feedback on a broad range of issues related to “activist short selling”. Activist… -
Dispute Resolution
Advance Notice By-Laws – A Canadian Shield
In BlackRock Credit Allocation Income Trust v. Saba Capital Master Fund, Ltd., the Delaware Supreme Court recently provided guidance on the validity of supplemental disclosure obligations imposed on… -
Capital Markets
Glass Lewis Releases 2020 Canadian Proxy Voting Guidelines
Proxy advisor Glass, Lewis & Co. recently released its 2020 Canadian Guidelines to Proxy Advice. These policy guidelines generally apply to shareholder meetings beginning in 2020, and the… -
Capital Markets
The Legal Status of Board Observers in Canada
As part of an equity investment or financing transaction, investors often seek the right to appoint a board observer in addition to or in place of receiving an actual seat on a company’s board. These… -
Shareholder Activism
1 Question, 10 Lawyers, The Activist Report
Jonathan Feldman was featured in the article "1 Question, 10 Lawyers", published in 13D Monitor’s Activist Report, August 2019.Excerpt:While Canada has always been and continues to be one of the… -
Shareholder Activism
Companies In Canada Must Prepare For Shareholder Activism, Law360
Jonathan Feldman, Michael Partridge and Alexandra Murray co-authored the article "Companies In Canada Must Prepare For Shareholder Activism", originally published in Law360.Excerpt:"In 2018, Canada…
News & Events
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Shareholder Activism
Jon Feldman at 13D Monitor's 2021 Active-Passive Investor Summit
Jonathan Feldman will be a panellist in the session "Best and Worst Campaigns and Practices" at 13D Monitor's 2021 Active-Passive Investor Summit.Please click here for more information… -
Shareholder Activism
Jon Feldman interviewed in "Shareholder Activism in Canada 2021", Activist Insight
Jonathan Feldman discusses how COVID-19 has impacted shareholder activism in a recent interview with Activist Insight: How has COVID-19 impacted shareholder activism? Is there any sign of a… -
Mergers and Acquisitions
Jon Feldman interviewed in "Shareholder Activism in Canada", Risk & Compliance Magazine
Risk & Compliance Magazine recently sat down with Jonathan Feldman for a one-on-one interview on shareholder activism in Canada: R&C: What factors are driving activist campaigns in…
Related Expertise
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Mergers and Acquisitions
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Private Equity and Venture Capital
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Private M&A
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Public M&A
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Special Committee Advisory